A blog post written by a former employee touched off an investigation into its workplace culture that resulted in numerous firings and Travis Kalanick's resignation from his post as Uber's CEO. Global trips increased 150% year-over-year, including 90% growth in developed markets and over 250% growth in developing markets.
Adjusted net revenue was higher ending the second quarter at just over $1.75 billion compared more than $1.5 billion during its first quarter, said Uber officials.
Uber's business continues to grow as it licks its wounds from a tumultuous beginning to 2017. He has since tried to hang on to the three board seats he controls even as Benchmark sues him for fraud.
Following Uber's scandal-ridden year, four mutual fund firms have made a decision to trim their investments in the company, suggesting that months of controversies were affecting its $68 billion value and that Uber really needs to solve its myriad of problems. Earlier this year, the company faced several bouts of widespread public criticism during the #deleteUber movement, when more than 200,000 users deleted their accounts on the app.
China's Didi Chuxing raised $5 billion this year, while Lyft Inc. has attempted to seize on Uber's many stumbles, donating $1 million to the American Civil Liberties Union after Uber was criticized for its ties to the Trump administration, for instance.
St Paul Catholic Church & Preschool: Our Parish
In August of 1998, a new upgraded computer system was installed and the beginning of stpaulchurch.com domain and a new website. Father Bill began his priestly ministry here and now he returns and brings his energy and enthusiasm to our beloved parish.
Carnaval de Curramba for everyone Carnaval de Curramba for everyone
He who leaves without disguise will be sentenced to the holy rod and passed to the papayo of ridicule and popular derision. I want to put the whole heart to the Carnival so that the Board is in a heart attack and everyone passes it off.
The Helpful Art Teacher: Butterfly Night 2016, Samuel E. Shull School
One reason why Monarch butterflies are endangered is the monarch caterpillar will only eat the leaves of the milkweed plant. Help save the Monarch butterfly The monarch butterfly is in danger of extinct in our children's lifetime.
Removing Kalanick from the board was necessary "to ensure Uber is protected from Mr. Kalanick's corrosive influence and can promptly obtain the new leadership it needs to move forward", Benchmark's court filing said, referring to Uber's search for a new CEO.
At the end of the second quarter, Uber had $6.6 billion cash on hand.
Sexual harassment, an overthrown chief executive, bitter boardroom in-fighting and a major lawsuit have not affected Uber's business. Adjusted net losses also fell 9 percent to $645 million, a sign that margins are improving.
Nevertheless, Uber reported a 16 percent increase in quarterly bookings Wednesday, according to Reuters. It includes Russian Federation, where Uber's recently-announced partnership with Yandex has yet to be approved by local regulators, Axios reported.
The positive results come amid a largely turbulent year for Uber.